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Liquidator of Ambient Advertising unit sues director after funding go-ahead from court
Restructuring & Insolvency 2019-10-01 8:55 pm By Christine Caulfield

The liquidator of a subsidiary of collapsed Ambient Advertising has launched legal proceedings against the company’s director after getting the all-clear from the Federal Court to enter into an agreement with a litigation funder that will take 45 per cent of the proceeds.

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‘State of warfare’: Ashurst partner in legal deadlock with ex-judge neighbour in long-running Point Piper dispute
Corporate 2019-09-27 8:02 pm By Amelia Birnie

A judge has urged a partner at Big Six firm Ashurst not to “keep a fight going just because you can’t let it go”, after the lawyer tried to challenge a court ruling over a long-running building dispute with his neighbour, a former Family Court judge, in the exclusive Sydney suburb of Point Piper.

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Sparke Helmore off the hook as court slams IOOF unit with $81M judgment over plantation sale
Restructuring & Insolvency 2019-09-26 2:50 pm By Miklos Bolza

IOOF subsidiary Australian Executor Trustees has been hit with an $80.6 million judgment after breaching its duty as trustee in the sale of a 42,000 hectare timber plantation by collapsed forestry giant Gunns Group, and it can’t pass the liability on to Spark Helmore, despite the law firm’s inadequate advice.

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Octaviar liquidators get court OK to reject proofs of $900M in debt by subsidiaries
Restructuring & Insolvency 2019-09-24 9:18 pm By Christine Caulfield

The liquidators of failed Gold Coast investment group Octaviar have been given the thumbs up to reject over $900 million in proofs of debt from two of the firm’s subsidiaries after the Queensland Supreme Court ruled they had received competent legal advice on the matter and were justified in the rejections.

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James Estate Wines liquidator wins court OK to pursue $57M lawsuit against ANZ
Restructuring & Insolvency 2019-09-24 9:00 pm By Miklos Bolza

The special purpose liquidator appointed to four companies in the collapsed James Estate Wines group has been given the go-ahead by a judge to enter into a litigation funding arrangement with the conglomerate’s former director and pursue $57.1 million in potential claims against ANZ Banking Group.

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Provisional liquidators appointed to Merlin Diamonds to investigate concerns of ‘serious mismanagement’
Restructuring & Insolvency 2019-09-23 8:55 pm By Amelia Birnie

A judge has appointed provisional liquidators to ‘Diamond Joe’ Gutnick’s mining company Merlin Diamonds, after finding evidence of “serious mismanagement” and citing an urgent need to investigate the company’s books.

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Walton liquidator next in line to sue NAB, former director
Restructuring & Insolvency 2019-09-19 8:39 pm By Miklos Bolza

The liquidator appointed to investigate a class action over Walton Construction’s collapse is now looking to file his own case against National Australia Bank, the company’s former director, and the restructuring firm hired before the construction company’s demise.

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Contractors file $78M class action against NAB, Walton Construction
Class Actions 2019-09-13 4:08 pm By Miklos Bolza

A group of contractors have launched a $78 million class action against National Australia Bank, two insolvent units of Waltons Australia and the company’s director, seeking compensation for unpaid work done prior to the company’s collapse.

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Walton liquidators target restructuring group that helped director avoid $18M in debt obligations
Restructuring & Insolvency 2019-09-12 5:21 pm By Miklos Bolza

The liquidators of failed construction company Walton Construction are seeking to reinstate and then wind up a unit of restructuring advisory firm Mawson Group, which was hired to extricate Walton from $18.8 million in debts with National Australia Bank prior to its collapse.

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Judge gives ACCC go-ahead to continue case against insolvent Jump
Competition & Consumer Protection 2019-09-10 10:40 am By Miklos Bolza

The Australian Competition and Consumer Commission has won its bid to continue proceedings against the insolvent operator of the Jump! swim school franchise and its director, with a court finding the case was in the public interest.

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